DayStarter

Market snapshot

Equities, sectors, commodities, currency, bonds and institutional flows at the close of 15 July 2026.

Equities and sectors

Indian equities ended slightly higher on 15 July 2026. The Nifty 50 closed at 24,078.50, up 0.11% from its previous close of 24,052.05. The Sensex closed at 77,185.43, up 0.17%, and Nifty Bank closed at 57,757.85, up 0.51%.

The day started with positive global cues after a softer-than-expected US inflation print. The Nifty opened with a 34-point gap-up at 24,086 and moved into the 24,200-24,220 zone in the first hour. Around 12:45 PM, the index moved down quickly from around 24,170 to nearly 24,050. It closed at 24,078.50, giving up most of its intraday gains after the sharp midday reversal.

Sectoral indices performance

PSU Bank, Consumer Durables and Bank were the strongest sectoral indices. Metal, IT and FMCG closed lower.

Top gainers and losers amongst F&O stocks

Among F&O stocks, BHEL, ABB, SWIGGY, FORCEMOT and GVT&D were the top gainers. PATANJALI was the weakest stock in the list, followed by TATAELXSI, ADANIPOWER, DELHIVERY and VEDL.

Commodities and currency

MCX crude oil and natural gas closed higher. Crude Oil settled at 7,724.00, up 1.85%, and Natural Gas settled at 281.70, up 0.93%. Gold and Silver closed lower. Gold ended at 141,275.00, down 0.69%, and Silver ended at 221,003.00, down 0.98%.

Institutional flows

Over the last five sessions, FIIs were net sellers and DIIs were net buyers. The five-session total showed FII net selling of ₹4,789.0 crore and DII net buying of ₹9,883.0 crore. FIIs recorded the same net selling of ₹3,062.0 crore on both 14 and 13 July.

Thematic movers

Thematic index movements can be checked on the Tijori App or the NSE/BSE portals.

Zerodha AfterMarket Report, close of 15 July 2026

Macro view

The domestic macro section was led by policy approvals in manufacturing, labour market data, monsoon updates, foreign-currency deposits and public sector bank engagement with unions.

Chip and phone manufacturing push

The Union cabinet approved Semicon 2.0, a ₹1.27 trillion programme, and a mobile-phone manufacturing scheme with a ₹62,500 crore allocation. It also approved an investment policy for gas-based urea plants. Semicon 2.0 targets ₹4 trillion in investments by FY31. Phone manufacturing incentives will range from 2.25% to 5% on sales. The cabinet also cleared two Uttar Pradesh highway projects worth ₹25,446 crore and railway projects worth ₹3,907 crore. Three of the 12 semiconductor plants approved under the first phase of the India Semiconductor Mission have already started commercial production.

Jobless rate

India’s unemployment rate for people aged 15 years and above stayed unchanged at 5.5% in June compared with May, based on the Periodic Labour Force Survey-Monthly Bulletin. Urban unemployment rose to 6.6% from 6.4%. Rural unemployment eased to 5.0% from 5.1%. The labour force participation rate for those aged 15 and above was unchanged at 54.4%.

Monsoon and crop insurance

India’s seasonal rainfall deficit narrowed to 23% since 1 June from 37% at the end of June, based on India Meteorological Department data. Cumulative rainfall was 227 mm against a long-period average of 294.2 mm. Even after the improvement, 21 subdivisions, or 56% of the country, were still rainfall deficient. June was India’s driest month in more than a decade and the fifth-driest June since records began in 1901. Monsoon rainfall in June was 39.8% below normal. IMD’s monthly outlook forecasts below-normal July rainfall at less than 94% of the long-period average.

FCNR deposit mobilisation

The RBI has spoken to commercial banks about the slower-than-expected response to its foreign-currency deposit scheme launched in June. The scheme is running behind the similar 2013 effort, which raised $26 billion. Initial inflows have fallen short of expectations of $30 billion to $40 billion. Several market participants put FCNR deposits collected so far at around $7 billion.

PSB-union engagement

The Union finance ministry has directed all 12 public sector banks to hold quarterly meetings with recognised unions and officers’ associations. The directive covers about 640,000 employees. Banks were asked to issue a meeting calendar for the remaining six months of 2026 by 15 July.

India-UK CETA

Prime Minister Narendra Modi described the operationalisation of the India-UK Comprehensive Economic and Trade Agreement and the parallel social security pact as a reflection of “trust” between the two democracies.

Mint; Zerodha AfterMarket Report

Corporate action and earnings

The domestic corporate news flow covered Q1FY27 earnings, fundraising, real estate development, IPO demand and a sector-level profitability update for fintech.

Q1FY27 earnings

• HDFC Life (Q1FY27): Standalone net profit rose 12% year-on-year to ₹611.4 crore. Value of new business rose 9% to ₹879 crore. VNB margin was largely stable at 25%, and industry market share stood at 11.2%.
• Jana Small Finance Bank (Q1FY27): Net profit rose 52.3% year-on-year to ₹155 crore. The increase was helped by a 33% rise in net interest income to ₹782 crore, lower provisions and better asset quality.
• ICICI Prudential Life (Q1FY27): Value of new business was ₹571 crore, up 24.9% year-on-year. VNB margins rose 220 basis points to 26.7%.
• Union Bank of India (Q1FY27): Net profit for the April-June quarter was ₹5,332.30 crore, up 29.6% from ₹4,115.53 crore a year earlier.
• Groww (quarter ended 30 June 2026): Revenue from operations was ₹1,501 crore, up 66% from ₹904 crore in the same period last fiscal.
• LTTS (Q1FY27): L&T Technology Services began the fiscal year with sequential constant-currency revenue growth of 1.5%. Ebit margin expanded 50 basis points sequentially to 15.7%. The stock closed 6.5% higher on Wednesday. LTTS reiterated its target of 13% to 15% revenue CAGR over five years.

Deals, fundraising and real estate

• Adyar Ananda Bhavan (A2B): The promoters of A2B relaunched a stake-sale deal. Bodhi Tree Systems is in advanced discussions. The deal values the company at ₹3,000 crore to ₹3,500 crore. A2B reported FY25 revenue of ₹1,487.5 crore, compared with ₹1,392.7 crore a year earlier. Net profit was ₹36.2 crore, down from ₹39.1 crore in FY24.
• Raymond Realty: Raymond Realty signed a joint development agreement for a premium residential project in Mumbai’s Parel. The project has an estimated gross development value of around ₹8,500 crore and marks the company’s entry into the South Mumbai market.
• IKEA: IKEA plans to more than double its investment in India to over ₹21,000 crore by 2030.
• Ather Energy: Ather Energy will receive a ₹200 crore investment from the Government of India through the India-Japan Fund. This is part of a proposed ₹1,200 crore fundraise managed by the National Investment and Infrastructure Fund. Separately, Ather’s board approved a ₹12 billion capital raise through a preferential issue of shares and convertible warrants, backed by existing investors led by Hero MotoCorp and the India-Japan Fund.

IPO and sector view

• SBI Funds Management IPO: The SBI Funds Management IPO was fully subscribed on the second day of bidding. It ended the day at 2.77 times subscription, with a price band of ₹545 to ₹574 per equity share.
• Fintech profitability (Jefferies): Jefferies India described FY25 as the fintech sector’s first year of profit. Aggregate profit after tax is projected to rise to ₹43,000 crore by FY30 from ₹2,300 crore currently. Wealthtech was identified as the biggest earnings engine.

Mint; Zerodha AfterMarket Report

Upcoming economic events

The following are scheduled economic releases. They are not confirmed outcomes.

Earnings calendar, 16 July 2026

Mint; Zerodha AfterMarket Report

Global pulse

International indices, markets and companies at the close of 15 July 2026.

Global indices

Most major global indices closed higher. Nikkei 225 and Hang Seng had the strongest gains, while Shanghai Composite and FTSE 100 closed lower.

Oil, West Asia and China

• Crude oil and West Asia: Crude oil climbed above $79 per barrel. It rose for a third straight session to a one-month high as U.S.-Iran tensions increased concerns about Middle East oil supplies. Indian refiners are increasingly using the UAE’s Fujairah and Khor Fakkan ports along the Gulf of Oman to avoid the Strait of Hormuz. Before the war, about 60% of India’s crude oil imports, 54% of LNG imports and 90% of LPG imports came from West Asia and were routed through the Strait.
• China Q2 GDP: China’s economy grew 4.3% year-on-year in the second quarter of 2026. Growth slowed from 5.0% in the previous quarter and was below market expectations of 4.5%. It was the weakest growth since Q4 2022. The same 4.3% GDP growth was below this year’s official target range of 4.5% to 5%. First-half growth was 4.7%, and fixed-asset investment fell 5.7% in the first half.

Global deals and earnings

• Stripe-Advent bid for PayPal: Stripe and private equity firm Advent International have jointly offered to acquire PayPal for $60.50 per share. The offer values PayPal at more than $53 billion. This is around a 28% premium to PayPal’s closing price on Tuesday. The bid is backed by about $50 billion in committed bank financing.
• BlackRock (Q2): BlackRock posted better-than-expected second-quarter profit. Assets under management reached a record $15.34 trillion, up from $12.53 trillion a year earlier and $13.89 trillion in the previous quarter.
• ASML guidance: ASML raised its 2026 sales forecast for the second time this year. It now expects full-year net revenue of €43 billion to €45 billion, up from earlier guidance of €36 billion to €40 billion. Its shares rose nearly 4%.

US-Iran escalation

US strikes on Iran: The US reimposed a naval blockade on Iran and increased its airstrike campaign on Wednesday in response to attacks on ships in the Strait of Hormuz. The US first imposed a blockade in April and lifted it last month after an interim deal, which has since stalled.

Zerodha AfterMarket Report; Mint

Management chatter

Verbatim quotes from named speakers.

Zerodha AfterMarket Report

Feature: India’s new Index of Services Production

On Tuesday, 14 July 2026, the Ministry of Statistics and Programme Implementation released India’s first trial Index of Services Production, or ISP. The ISP is a short-term indicator that measures how the volume of services output changes over time compared with a base period. It is the services-sector counterpart to the monthly Index of Industrial Production, or IIP.

The services sector has contributed more than 50% of India’s Gross Value Added since 2013-14. The ISP is meant to give planners and policymakers a high-frequency reading of this large part of the economy. It also complements the IIP and strengthens the statistical framework used for policy analysis.

The first trial covers 19 sub-sectors, which span about 60% of the formal services economy. It does not yet include an overall composite index. A composite ISP is expected after the stability of the trial series is assessed and coverage is expanded.

What the first trial reading showed, April 2026

In April 2026, 14 of the 19 sub-sectors recorded double-digit growth compared with April 2025. The fastest-growing sub-sectors were accommodation and food services at 37.2%, retail trade at 30.8%, administrative and support services at 28.7%, and real estate activities at 27.7%. Air transport, down 13.9%, and railway transport, down 0.4%, were the only sub-sectors that contracted during the month. IndexBox and GKToday confirmed the same four fastest-growing sub-sectors and the count of 14 sub-sectors with double-digit growth.

How the ISP is built

• Base year: The trial ISP uses 2024-25 as its base year. This is aligned with the rebased CPI series, which uses base year 2024.
• Method: The ISP is compiled using a fixed-weight Laspeyres volume index. This method uses fixed weights based on sectoral contributions to Gross Value Added from National Account Statistics.
• Data sources: The three main data sources are GST data on outward supplies, reported through GSTR-1, for most services; administrative and secondary data for air transport, railway transport, banking and insurance; and Annual Survey of Incorporated Services Sector Enterprises data for health and education, excluding government, to be added later.
• Deflators: WPI is used for wholesale trade. Sector-specific CPI is used where available. CPI General is used for banking and insurance, and CPI Non-Food is used elsewhere. CPI is being used in place of Service Producer Price Indices because those indices are available for only five of the covered sub-sectors.
• Frequency: The ISP will be released every month with a lag of about 60 days. It will be released on the 29th of every month, or on the next working day if the 29th is a holiday.
• Governance: A Technical Advisory Committee on the ISP was formed in May 2025 under the chairpersonship of Debjani Ghosh, distinguished fellow, NITI Aayog. The committee’s report was released on 7 July 2026.

Scope and limits

The ISP will mainly reflect the formal sector because it is compiled using outward supply data from enterprises registered under GST. The excluded areas include public administration and defence, financial services other than banking and insurance, membership organisations, personal services, activities of private households, gambling and betting activities, and health and education services provided by government.

The trial indices are published on an experimental basis. This allows MoSPI to examine data quality, test the strength of the series and receive feedback from stakeholders.

Feature sourcing note

This feature draws on the following credible, non-paywalled sources, all attributed inline:

• Press Information Bureau / MoSPI, “FAQs on Index of Services Production - Trial Indices with Base year 2024-25” (Release ID 2277392, 24 June 2026): pib.gov.in
• Business Standard, “Mospi launches trial services output index to track monthly sector activity” (14 July 2026): business-standard.com
• IndexBox, “MoSPI Releases First Sub-Sectoral Trial Index of Services Production (ISP) for April 2026” (14 July 2026): indexbox.io
• GKToday, “Government Releases First Services Production Index” (14 July 2026): gktoday.in

MoSPI / Press Information Bureau; Business Standard; IndexBox; GKToday